Foreclosure & Alternatives Law

Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in New York?

Yes, New York lenders have the right to sue borrowers for loan amounts that are still owed after a foreclosure sale has occurred. A New York lender has 90 days from the date of the foreclosure sale to initiate a lawsuit for a deficiency judgment if one is sought.